Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:USD/CAD faces strong resistance at 1.34200, good to buy on dips

  • Major resistance- 1.34200
     
  • Major support – 1.3300
     
  • Loonie recovered sharply from the low of 1.33173 yesterday. It is currently trading around 1.34176.
     
  • Any convincing break above 1.34200 will take the pair to next level till 1.3465/1.3530. The pair should close above 1.35885 for further bullishness.
     
  • On the lower side, any break below 1.3300 (7- day EMA) will drag the pair down till 1.3250 (daily Tenken-Sen)/1.3200 (100- day MA).

    It is good to buy on dips around 1.34000 with SL around 1.3300 for the TP of 1.3530/1.35880   
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.